Market Report: Gambling stocks buoyed by US breakthrough
A bleak day for the London markets was given a lift by news that the American Gaming Association, the trade body of the US gambling industry, is to reclassify its position on online gambling.
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Interesting gambling information:
- The word Casino originally meant a public hall for music and dancing. By the second half of the 19th century, the term essentially meant a collection of gaming or gambling rooms. The classic example of a casino, is the casino at Monte-Carlo, which was opened in 1861.
- In 1891, Sittman and Pitt of Brooklyn began to manufacture the first nationally known poker card machines. The machines maintained their enormous popularity until just before World War I.
- The El Rancho Casino & Hotel in Las Vegas was known for a few firsts. It was the first casino/resort on the Strip opening in 1941 with 63 guestrooms. It was also the first to offer a buffet. The cost of the buffet was only $1.00! The El Rancho burned down in 1960 and fortunately no one was hurt.
- Lotteries were brought to America in the 1800s by the thousands of Chinese immigrants who worked in the mines and on the railroads.